Tag Archives: source

Social Security: When, How Much & Why

The Social Security program will probably be a very important source of income for you when you attain senior citizen status. In this blog post, we will provide you with some very useful information about the program. Eligibility Age First, we will look at the age of eligibility for Social Security coverage. In many cases, the government can make things more complicated than they probably should be, and this enters the picture when it comes to the eligibility age. There is no one age of eligibility that applies to everyone. The eligibility date depends upon your year of birth. If you were born between 1943 and 1954, your age of eligibility for your full Social Security benefit is 66. After 1954, the eligibility age goes up by two months each year. To explain by way of example, if you were born in 1955, you would become eligible for your full Social Security benefit two months after your 66th birthday. Someone who was born in 1956 would become eligible at the age of 66 years and four m


Is There a Source of Income for People With Special Needs?

People with special needs are often going to be unable to earn income on their own. There are a couple of different government programs that provide income for people who are in this position. One of them is Social Security Disability Insurance. When you work and you pay those pesky FICA or self-employment taxes, you are earning credits that will ultimately lead to eligibility for Social Security benefits. This program is for the most part in place to provide income for senior citizens, but it also protects you if you become unable to work due to a disability. If you have sufficient credits, you may be able to qualify for Social Security Disability Insurance benefits if a disability prevents you from earning much income on your own. Since this program is not specifically designed to provide for people with financial limitations, you could potentially qualify, even if you are in possession of resources. Supplemental Security Income The other government benefit program that provides inc